HR Policies & Trends
Big 4 raid each other's pools as talent war rages amid unprecedented growth
The Big Four accounting firms - EY, PwC, Deloitte, and KPMG - are engaged in a talent war as they seek to strengthen their advisory practices and fill gaps in their service portfolios. Deloitte recently hired 150 members, including 15 partners, from KPMG, prompting KPMG to actively court Deloitte partners and their teams. PwC is also said to be poaching eight partners from KPMG, along with over 150 executives. The demand for talent has intensified as the Big Four firms have reported significant growth, fueled primarily by advisory sectors such as consulting and transactions.
India 'big hub' for blue collar economy: Fountain CEO Sean Behr
India is the "most natural place" to invest, and to expand as there is a huge opportunity and growth rate in the blue/grey collar market, Behr noted.
GST woes at online gaming companies trigger a deluge of CVs at recruitment firms
The implementation of a 28% GST on online gaming in India has led to a surge in job seekers from the sector. Concerns about the potential impacts of the GST on their future have prompted employees to actively seek new opportunities in other sectors. Job searches by talent in Indian gaming companies have nearly tripled in the last six weeks.
Generative AI is replacing remote work in the future of work debate
Work’s main issue is no longer the future of inanimate bricks and mortar of offices — significant economically though this is to city centers, commutes and the real-estate industry. Nor is it about the alternative “space” of the much-vaunted metaverse, which Wired Magazine describes as so vague that if you replace it with cyberspace “ninety percent of the time, the meaning won’t substantially change.”
Indians willing to spend nearly Rs 2 lakh annually out of pocket for upskilling: Survey
The trend of Indians spending on further education out of pocket stood out from most other parts of the world, where upskilling is being funded largely by organisations. The main motivations for Indian professionals to pursue further education included increased job security, a rise in self-confidence, developing leadership skills, and staying up-to-date with industry knowledge.
Companies have cautious hiring outlook for next quarter: survey
According to a survey by Manpower Group, employers in India expect measured hiring rates in the coming months. The study reported a net employment outlook of 37% for the upcoming quarter, with 49% of companies anticipating an increase in hiring. The information technology sector remained the top sector for hiring, followed by transport, logistics, automotive, healthcare, lifesciences, consumer goods, and services industries.
New frontline jobs decline 17.5% in FY23, says study
The number of frontline jobs in India declined by 17.5% in the fiscal year 2022-23 due to macroeconomic challenges and an uncertain economic environment, according to a report by BetterPlace. The report revealed that 6.6 million frontline jobs were created in the last fiscal year, compared to 8 million in the previous year. The logistics and mobility sector replaced e-commerce as the highest employment industry for frontline workers, while the integrated facility management and IT sector witnessed the highest demand growth.
Frontline job creation drops 17.5 per cent to over 6.6 million in FY23: report
According to a report by BetterPlace, the number of frontline jobs created in 2022-23 declined by 17.5% compared to the previous year. This decrease can be attributed to macroeconomic headwinds and an uncertain economic environment. However, the ongoing festive season is expected to boost demand for manpower, and the logistics and mobility sector has become the highest employment industry for frontline workers.
Indian learners are giving more importance to AI and machine learning courses: Coursera
Indian learners on the online learning platform Coursera are showing a strong interest in developing skills related to artificial intelligence (AI) and machine learning. They are over-indexing in courses on artificial neural networks, applied machine learning, and machine learning algorithms. Other popular areas of interest among Indian learners include data visualization software, blockchain, supply chain systems, and software architecture.
Working moms-in-law lift female employment in India, study says
A recent study has found that in India, women are more likely to seek formal employment if their mother-in-law is also employed. In urban areas, daughters-in-law are 70% more likely to be employed if their mother-in-law has a job, while in rural areas, the likelihood increases by 50%.
Must Watch
Myntra boosts female workforce in preparation for festive season demand
This festive season Myntra is readying an army of women across its warehouse and contact centres. This year, the company has the highest number of women ahead of its annual event-Big Fashion Festival, said its CHRO, Nupur Nagpal.
Artificial Intelligence both a risk and opportunity for Journalism: report
A new report by the London School of Economic's JournalismAI initiative reveals that journalists have mixed feelings about the use of artificial intelligence (AI) in their work. While 85% of respondents have experimented with generative AI for tasks such as writing summaries and generating headlines, 60% expressed concerns about the ethical implications of AI on journalistic values.
Data science job openings drop, non-IT and BFSI lends a helping hand: Report
The overall open jobs for analytics and data science in India has dropped by 20% this year compared to the previous year, according to a report by Great Learning. However, non-IT analytics jobs have increased and the banking and financial services sector has the highest demand for these roles. The report also highlighted a trend towards stabilisation in the job market since 2023.
Scaling up apprenticeship and work solutions
The Ministry of Skill Development and Entrepreneurship (MSDE) and Common Service Centres (CSCs) have partnered to bring apprenticeship training to rural areas in India. The CSCs will train 40,000 apprentices annually, focusing on digital literacy and rural entrepreneurship. The aim is to engage village-level entrepreneurs and provide real-world skills to candidates.
Eight per cent increase in white-collar hiring demand in April-June: Indeed
Despite the turbulence in the IT sector, it remains the preferred area for job seekers in India, according to data from employment specialist firm Indeed. The data also showed an increase in white-collar hiring, with production/manufacturing, sales, and marketing roles being favored options. The survey included data from over 1,000 employers and 2,500 job seekers or employees and indicated a growing demand for skills such as critical thinking, problem-solving, and communication.
Thriving in the gig economy: A guide for enterprises to source and manage gig talent
Effectively managing gig talent involves creating detailed contracts, transparent communication, and utilizing project management tools. Enterprise-focused gig platforms can provide end-to-end solutions and high-quality talent, while also streamlining operations. Building lasting relationships with gig workers is essential for success in the gig economy.
